Table Of Contents
Key Information 1
Key Ratios 1
Table Of Contents 2
List of Tables 4
List of Figures 5
CREDO Petroleum Corporation, Production and Reserves Trends 6
Total Oil and Gas, Reserves and Production 6
Total Crude Oil and Natural Gas Production and Reserves Trend, 2003-08 6
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2003-08 7
Total Crude Oil and Natural Gas Reserve Changes, 2003-08 8
Crude Oil/Liquids Production and Reserve 9
Crude Oil/Liquids Production and Reserve Trend, 2003-08 9
Crude Oil Production and Reserves By Country/Region, 2003-08 10
Crude Oil/Liquids Reserve Changes, 2003-08 11
Natural Gas Production and Reserve 12
Natural Gas Production and Reserve Trend, 2003-08 12
Natural Gas Production and Reserves, By Country/Region, 2003-08 13
Natural Gas Reserve Changes, 2003-08 14
Total Crude Oil and Natural Gas Reserves Life Index 15
Total Crude Oil and Natural Gas Reserves Life Index, 2003-08 15
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2003-08 16
CREDO Petroleum Corporation, E&P Costs Trends 18
Allocation of the Upstream Capital Expenditure 18
Upstream Capital Expenditure, 2003-08 18
Acquisition Costs By Country/Region, 2003-08 19
Exploration and Development Costs, By Country/Region, 2003-08 20
Oil and Gas Cost Per Boe, $/boe 21
Oil and Gas Cost Per Boe, $/boe, 2003-08 21
Oil and Gas Cost Per Boe, $/boe, By Country/Region, 2003-08 22
CREDO Petroleum Corporation, Reserve Replacement Ratio 24
Oil and Gas Production Replacement Ratio 24
Oil and Gas Production Replacement Ratio, 2003-08 24
Oil and Gas Production Replacement Ratio, By Country/Region, 2003-08 26
CREDO Petroleum Corporation, Results of Oil & Gas Operations Trend 30
Oil and Gas Revenue and Expenses 30
Oil and Gas Revenue and Expenses, 2003-08 30
Oil and Gas Revenue and Expenses, By Country/Region, 2003-08 31
Oil and Gas Revenue and Expenses, Per Boe 34
Oil and Gas Revenue and Expenses, By Boe, 2003-08 34
Oil and Gas Revenue and Expenses Per Boe, By Country/Region, 2003-08 35
Oil and Gas Performance Metrics 37
CREDO Petroleum Corporation, Land Holdings and Well Data 38
Developed and Undeveloped Acreage 38
Gross and Net Developed and Undeveloped Acreage, 2003-08 38
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2003-08 39
Well Statistics 41
Producible Oil and Gas Well, 2003-08 41
Producible Oil and Gas Well, By Country/Region, 2003-08 42
Exploration and Development Wells Drilled, 2003-08 45
Exploration and Development Wells Drilled, By Country/Region, 2003-08 46
Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 2003-08 46
Developed Reserves per Well, By Country/Region, 2003-08 47
Appendix 49
Methodology 49
Coverage 49
Secondary Research 50
Primary Research 50
Expert Panel Validation 50
Definition 50
Oil and Gas Reserves 51
Acreage and Well Information 51
Cost Incurred in Oil and Gas Operations 51
Reserves Replacement Ratio 54
Results of Oil & Gas Operations 55
Results of Oil & Gas Operations Per BOE Produced 57
Net Debt / Cash Flow 59
Market Capitalization 59
EV / EBITDA 59
EV/DACF (Debt Adjusted Cash Flow Multiple) 59
EV/Production 59
EV/Proved Reserve 59
Enterprise Value 59
EBITDA / Share (Diluted) 59
Price / Annualized CFPS 59
Price / Annualized EPS (P/E Ratio) 59
Shares Outstanding (Basic) 59
Shares Outstanding (Diluted) 59
Shares Outstanding 59
Stock Price-to-Cash Flow (at year-end) 60
Stock Price-to-Cash Flow (Quarter-end) 60
Stock Price-to-Net Income (at year-end) 60
Stock Price-to-Net Income (Quarter-end) 60
Stock Price-to-Revenue (at year-end) 60
Stock Price-to-Revenue (Quarter-end) 60
Debt / EV 60
Avg. Net Debt / Boed 60
Capex / Cash Flow 60
Unit Of Measure 60
Disclosure information 60
List of Tables
CREDO Petroleum Corporation, Key Facts 1
CREDO Petroleum Corporation, Key Ratios 1
CREDO Petroleum Corporation, Key Costs Per Boe, $/boe, 2008 1
CREDO Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2003-08 6
CREDO Petroleum Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, MMboe, 2003-08 7
CREDO Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2003-08 8
CREDO Petroleum Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 2003-08 9
CREDO Petroleum Corporation, Crude Oil Production and Reserves, By Country/Region, MMbbl, 2003-08 10
CREDO Petroleum Corporation, Crude Oil Reserve Changes, MMbbl, 2003-08 11
CREDO Petroleum Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2003-08 12
CREDO Petroleum Corporation, Natural Gas Production and Reserves, By Country/Region, Bcf, 2003-08 13
CREDO Petroleum Corporation, Natural Gas Reserve Changes, Bcf, 2003-08 14
CREDO Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 2003-08 15
CREDO Petroleum Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2003-08 17
CREDO Petroleum Corporation, Upstream Capital Expenditure, $ Million, 2003-08 18
CREDO Petroleum Corporation, Proved and Unproved Acquisition Costs, By Country/Region, $ Million, 2003-08 19
CREDO Petroleum Corporation, Exploration and Development Costs, By Country/Region, $ Million, 2003-08 20
CREDO Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per Boe, $/boe, 2003-08 21
CREDO Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per Boe, $/boe, By Country/Region, 2003-08 23
CREDO Petroleum Corporation, Oil and Gas Production Replacement Ratio, %, 2003-08 24
CREDO Petroleum Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2003-08 29
CREDO Petroleum Corporation, Revenue and Expenses, $ Million, 2003-08 30
CREDO Petroleum Corporation, Revenue and Expenses, By Country/Region, $ Million, 2003-08 33
CREDO Petroleum Corporation, Oil and Gas Revenue and Expenses, $/Boe, 2003-08 34
CREDO Petroleum Corporation, Oil and Gas Revenue and Expenses, $/Boe, By Country/Region, 2003-08 36
CREDO Petroleum Corporation, Oil and Gas Performance Metrics, 2003-08 37
CREDO Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2003-08 38
CREDO Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2003-08 40
CREDO Petroleum Corporation, Producible Oil and Gas Wells, 2003-08 41
CREDO Petroleum Corporation, Producible Oil and Gas Wells, By Country/Region, 2003-08 44
CREDO Petroleum Corporation, Exploratory and Developed Wells, 2003-08 45
CREDO Petroleum Corporation, Exploratory and Developed Wells, By Country/Region, 2003-08 46
CREDO Petroleum Corporation, Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 2003-08 46
CREDO Petroleum Corporation, Developed Reserves per Well, By Country/Region, Mboe per Well, 2003-08 48
List of Figures
CREDO Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2003-08 6
CREDO Petroleum Corporation, Total Oil & Gas Production (MMboe), By Country/Region, MMBOE, 2003-08 7
CREDO Petroleum Corporation, Total Proved Oil & Gas Reserves, By Country/Region, MMBOE, 2003-08 7
CREDO Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2008 8
CREDO Petroleum Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 2003-08 9
CREDO Petroleum Corporation, Oil Production, By Country/Region, MMbbl, 2003-08 10
CREDO Petroleum Corporation, Total Proved Oil Reserves, By Country/Region, MMbbl, 2003-08 10
CREDO Petroleum Corporation, Crude Oil Reserve Changes, MMbbl, 2008 11
CREDO Petroleum Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2003-08 12
CREDO Petroleum Corporation, Gas Production, By Country/Region, Bcf, 2003-08 13
CREDO Petroleum Corporation, Total Proved Gas Reserves, By Country/Region, Bcf, 2003-08 13
CREDO Petroleum Corporation, Natural Gas Reserve Changes, Bcf, 2008 14
CREDO Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 2003-08 15
CREDO Petroleum Corporation, Gas Reserve Life Index, By Country/Region, Years, 2003-08 16
CREDO Petroleum Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2003-08 16
CREDO Petroleum Corporation, Oil Reserve Life Index, By Country/Region, Years, 2003-08 17
CREDO Petroleum Corporation, Upstream Capital Expenditure, $ Million, 2003-08 18
CREDO Petroleum Corporation, Proved Acquisition Costs, By Country/Region, $ Million, 2003-08 19
CREDO Petroleum Corporation, Unproved Acquisition Costs, By Country/Region, $ Million, 2003-08 19
CREDO Petroleum Corporation, Development Costs, By Country/Region, $ Million, 2003-08 20
CREDO Petroleum Corporation, Exploration Costs, By Country/Region, $ Million, 2003-08 20
CREDO Petroleum Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per Boe, $/boe, 2003-08 21
CREDO Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas Finding & Development Cost per boe, By Country/Region, $/BOE, 2003-08 22
CREDO Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas Finding Cost per boe, By Country/Region, $/BOE, 2003-08 22
CREDO Petroleum Corporation, 3-Year Wt. Avg. Reserve Replacement Cost per boe, By Country/Region, $/BOE, 2003-08 23
CREDO Petroleum Corporation, 3-Year Wt. Avg. Proved Acquisition Cost per boe, By Country/Region, $/BOE, 2003-08 23
CREDO Petroleum Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2003-08 24
CREDO Petroleum Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2003-08 26
CREDO Petroleum Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2003-08 26
CREDO Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2003-08 27
CREDO Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2003-08 27
CREDO Petroleum Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2003-08 28
CREDO Petroleum Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2003-08 28
CREDO Petroleum Corporation, Revenue and Expenses, $ Million, 2003-08 30
CREDO Petroleum Corporation, Depreciation, Depletion & Amortization , By Country/Region, $ Million, 2003-08 31
CREDO Petroleum Corporation, Oil & Gas Revenue, By Country/Region, $ Million, 2003-08 31
CREDO Petroleum Corporation, Pre-tax Profit, By Country/Region, $ Million, 2003-08 32
CREDO Petroleum Corporation, Production Expenses, By Country/Region, $ Million, 2003-08 32
CREDO Petroleum Corporation, Total Expenses, By Country/Region, $ Million, 2003-08 33
CREDO Petroleum Corporation, Oil and Gas Revenue and Expenses, $/Boe, 2003-08 34
CREDO Petroleum Corporation, Lifting Cost per boe, By Country/Region, $/BOE, 2003-08 35
CREDO Petroleum Corporation, Oil & Gas Revenue per boe, By Country/Region, $/BOE, 2003-08 35
CREDO Petroleum Corporation, Total DD&A per boe, By Country/Region, $/BOE, 2003-08 36
CREDO Petroleum Corporation, Total Revenue per boe, By Country/Region, $/BOE, 2003-08 36
CREDO Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2003-08 38
CREDO Petroleum Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2003-08 39
CREDO Petroleum Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2003-08 39
CREDO Petroleum Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2003-08 40
CREDO Petroleum Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2003-08 40
CREDO Petroleum Corporation, Producible Oil and Gas Wells, 2003-08 41
CREDO Petroleum Corporation, Gross Producible Gas Wells, By Country/Region, Number, 2003-08 42
CREDO Petroleum Corporation, Gross Producible Oil & Gas Wells, By Country/Region, Number, 2003-08 42
CREDO Petroleum Corporation, Gross Producible Oil Wells, By Country/Region, Number, 2003-08 43
CREDO Petroleum Corporation, Net Producible Gas Wells, By Country/Region, Number, 2003-08 43
CREDO Petroleum Corporation, Net Producible Oil & Gas Wells, By Country/Region, Number, 2003-08 44
CREDO Petroleum Corporation, Net Producible Oil Wells, By Country/Region, Number, 2003-08 44
CREDO Petroleum Corporation, Exploratory and Developed Wells, 2003-08 45
CREDO Petroleum Corporation, Developed Gas Reserves per Well (MMcf per Well), By Country/Region, 2003-08 47
CREDO Petroleum Corporation, Developed Oil & Gas Reserves per Well (Mboe per Well), By Country/Region, 2003-08 47
CREDO Petroleum Corporation, Developed Oil Reserves per Well (Mbbls per Well), By Country/Region, 2003-08 48
GlobalData Methodology 49